s14Revenue Laws
Amendment (No. 2)The Parliament of Queensland enacts—s41†PART
1—PRELIMINARYClause˙Short
title1.This Act may be cited as theRevenue Laws Amendment Act (No. 2)1995.Clause˙Commencement2.(1)Section 4 is taken to have commenced on 7
April 1995.(2)Section 11 is taken to have commenced
on 1 July 1995.2345678†PART 2—AMENDMENT
OF STAMP ACT 1894˙Act amended in pt 2Clause3.This part amends theStamp Act 1894.Clause˙Insertion of new s 31BA4.After section 31B—insert—˙‘Options—marketable
securities‘31BA.(1)Thissectionappliestoasaleorpurchaseofamarketablesecurity under
the exercise of an option.‘(2)Forsection31B(2),theunencumberedvalueofthemarketablesecurity is taken
to be the greater of—(a)the premium paid
on the option; or91011121314151617181920
s55s5Revenue Laws Amendment (No. 2)(b)theconsiderationforthesaleorpurchaseofthemarketablesecurity.‘(3)Sections 31C to
31F apply to the sale or purchase of the marketablesecurityasifaninstructiontoabrokertolodgeanoticetoexerciseanoption, or the receipt by a broker of the
notice, were an order for purchaseor sale.'(4)In this
section—“option”means an option
over issued marketable securities listed on theAustralian Stock
Exchange Limited, but does not include an option ora
class of options excluded from the operation of sections 31C to
31Funder a regulation.’.Clause˙Amendment of s 49 (Meaning of
“conveyance or transfer” andprovisions
affecting the same)5.(1)After section
49(3)—insert—‘(3A)However, only
the true consideration mentioned in subsection (3)need
be specified in the instrument of conveyance or transfer if—(a)theconveyanceortransferofpropertyincludesrealpropertysituated in Queensland; and(b)the consideration for all of the
property (including livestock andmovablechattels)includedinthetransactiontowhichtheconveyance or transfer relates equals, or is
more than, the fullunencumbered value of all the
property.’.(2)Section 49(4), ‘by declaration made
under theOaths Act 1867,’—omit.(3)Section 49—insert—‘(5)The commissioner
may refuse to stamp a conveyance or transfer ofreal property if
a combined form, completed in all respects, has not beenproduced.‘(6)In this section—12345678910111213141516171819202122232425262728293031
s66s6Revenue Laws Amendment (No. 2)“combinedform”meansanapprovedformprovidinginformationrequired under
the following Acts—(a)this Act;(b)theLand Tax Act 1915;(c)theLocal Government
Act 1993;(d)theForeign Ownership of Land Register Act
1988;(e)theValuation of Land Act 1944.’.Clause˙Insertion of new s 54AD6.After section 54AC—insert—˙‘Statutory business
licences‘54AD.(1)Thissectionappliesifaperson(the“licenceholder”)acquires or agrees to acquire a
statutory business licence that is propertysituated in
Queensland.‘(2)Anacquisitionof,oragreementtoacquire,astatutorybusinesslicence is taken to have happened on the
grant, extension or renewal of thelicenceonlyiftheformerholderofthelicenceagreedtosurrenderorrelinquish the licence, or agreed not to
apply for an extension or renewal ofthe licence, so
that the licence, an extension or renewal of the licence, oranother licence for the same type of activity
could be issued or given to thelicence
holder.‘(3)This section
does not apply to the acquisition of, or agreement toacquire, a statutory business licence
effected or evidenced by an instrumentchargeablewithdutyunderschedule1,CONVEYANCEORTRANSFER, paragraph (4) on the conveyance or
transfer of the licence.‘(4)For
this section, a statutory business licence is property situated
inQueensland if the licence relates to, or is
held in connection with—(a)abusinesstakentoexistinQueenslandbecauseofsection 54A(10); or(b)Queensland or a part of
Queensland.‘(5)The licence
holder must, within 1 month after acquiring, or agreeing12345678910111213141516171819202122232425262728293031
s67s6Revenue Laws Amendment (No. 2)to
acquire, the statutory business licence (whichever happens first),
make astatement to the commissioner in the approved
form.Maximum penalty—100 penalty units plus an
amount equal to double theamount of the duty that would have been
chargeable on the statement if thestatement had
been made under this section.‘(6)If proceedings for an offence are not
taken against a licence holder,the commissioner
may impose a penalty of—(a)3% of the duty
chargeable on the statement for the first month, orpart
of the month, after the end of the period during which thestatement was required to be made;
and(b)2%foreachsubsequentmonthorpartofthemonth,untilthestatement is made.‘(7)However, if the penalty calculated
under subsection (6) would beless than $10,
the penalty is $10.‘(8)After
considering the circumstances, the commissioner may waiveor
reduce the penalty.‘(9)Thestatementmentionedinsubsection(5)istakentobeaninstrument under
this Act executed by the licence holder and is chargeablewith
duty as if it were a conveyance or transfer of the statutory
businesslicence to which the statement
relates.‘(10)However,subsection(11)appliesifastatutorybusinesslicencementioned in
subsection (4) also relates to, or is also held in
connectionwith—(a)for
a licence mentioned in subsection (4)(a)—a business carriedon
in, or from, another State or Territory; or(b)foralicencementionedinsubsection(4)(b)—anotherStateorTerritory.‘(11)If subsection
(10) applies, duty chargeable on the statement is to becalculated as if the consideration for, or
the full unencumbered value of, thelicence were an
amount that bears to the full amount of the considerationfor,
or full unencumbered value of, the licence the same proportion as
thepart of the full unencumbered value of the
licence derived from—(a)the business
undertaking of the licensee conducted in Queensland;or12345678910111213141516171819202122232425262728293031323334
s78s7Revenue Laws Amendment (No. 2)(b)thebusinessundertakingofthelicenseeconductedfromQueensland;
or(c)the relationship of the licence to
Queensland;whicheveristhegreatest,bearstothefullunencumberedvalueofthelicence.‘(12)In this
section—“statutory business licence”means a licence, permit or authority issued
orgivenunderalawoftheCommonwealthorQueenslandthatisrequired by the law to be held by a
person carrying out an activity forgain or
reward.’.Clause˙Amendment of s 55A (Duty relating to
principal place of residenceand first
principal place of residence)7.(1)Section 55A(1), definition“relevant rebate”—omit, insert—‘“relevant rebate”means—(a)forpropertyconsistingofaprescribedprincipalplaceofresidence—(i)if
the property is valued at $80 000 or less—$800;(ii)if
the property is valued at more than $80 000 but not morethan
$150 000—$500;(iii)if the property
is valued at more than $150 000 but not morethan $155
000—$300;(iv)if the property
is valued at more than $155 000 but not morethan $160
000—$200; and(b)forpropertyincludingaprescribedprincipalplaceofresidence—therebatethatwouldhavebeenavailableiftheproperty consisted of the residence
less an amount that bears tothe rebate the
same proportion as the value of the property notattributable to the prescribed principal
place of residence bears tothe value of the
property.’.(2)Section 55A(5), ‘without’—12345678910111213141516171819202122232425262728293031
s89s9Revenue Laws Amendment (No. 2)omit, insert—‘with’.Clause˙Amendment of s 57A (Motor vehicles)8.(1)Section 57A(2A),
‘subsection (2)’—omit, insert—‘subsections
(2AA) and (2AB)’.(2)Section 57A(2A), definition“list
price”—omit, insert—‘“list
price”, of a motor vehicle, means—(a)if the applicant for registration of
the motor vehicle is not exemptfrom the payment
of sales tax—the recommended retail price (or,ifthereismorethan1recommendedretailprice,thehighestrecommendedretailprice)ofthemanufacturer,importerorprincipal distributor at Brisbane
of—(i)foramotorvehicleotherthanamotortruck—themotorvehicle;
or(ii)foramotortruck—therelevantmakeandmodelofthecab-chassis; or(b)if
the applicant for registration is exempt from the payment ofsales tax—the recommended retail price (or,
if there is more than1recommendedretailprice,thehighestrecommendedretailprice)ofthemanufacturer,importerorprincipaldistributoratBrisbane (less sales tax) of—(i)foramotorvehicleotherthanamotortruck—themotorvehicle;
or(ii)foramotortruck—therelevantmakeandmodelofthecab-chassis .’.˙Insertion of new s 64DClause9.After section 64C—1234567891011121314151617181920212223242526272829
s
910s 9Revenue Laws
Amendment (No. 2)insert—˙‘Licence to occupy premises‘64D.(1)This section
applies if, under a contract or agreement that is inwriting or for which there is a written
offer—(a)a person (the“occupier”)
acquires or agrees to acquire a right tooccupy all or
part of a building in Queensland (the“premises”);and(b)the
occupier uses or will use the premises as a place of
business;and(c)theoccupierdoesnotobtainexclusivepossessionofthepremises; and(d)it
would be reasonable to conclude that the occupier’s
enjoymentofthepremisesasaplaceofbusinessduringthetermofthecontract or agreement is not, or will
not be, adversely affected bytheabsenceoftherighttoexclusivepossessionhavingregardto—(i)the periods during which the
occupier’s occupation of thepremises is not
exclusive; and(ii)the times when
the occupier’s right to have access to, or tooccupy, the
premises may be interrupted or denied.‘(2)This section does not apply to a
contract or agreement for the right tooccupy premises
in any of the following circumstances—(a)the
term of the right of occupation is less than 1 month and itwould be reasonable to conclude that there
is no arrangement bywhich the term may be extended or
renewed so that the total termwill be longer
than 1 month;(b)the term of the right of occupation is
at least 1 month but less than1 year and the
consideration paid or payable by the occupier forthe
right of occupation (other than reasonable outgoings for thepremises) adjusted for a term of 1 year is
not more than $10 000;(c)the term of the
right of occupation is for at least 1 year and theannual consideration paid or payable by the
occupier for the rightof occupation (other than reasonable
outgoings for the premises)is not more than
$10 000.12345678910111213141516171819202122232425262728293031323334
s
911s 9Revenue Laws
Amendment (No. 2)‘(3)The person
(the“grantor”)who has given,
or agreed to give, theoccupier the right to occupy the
premises must, within 1 month after theoccupieracquires,oragreestoacquire,therightofoccupationforapremises (whichever happens first),
make a statement to the commissionerin the approved
form.Maximum penalty—100 penalty units plus an
amount equal to double theamount of the duty that would have been
chargeable on the statement if thestatement had
been made under this section.‘(4)If proceedings for an offence are not
taken against a grantor, thecommissioner may
impose a penalty of—(a)3% of the duty
chargeable on the statement for the first month, orpart
of the month, after the end of the period during which thestatement was required to be made;
and(b)2%foreachsubsequentmonthorpartofthemonth,untilthestatement is made.‘(5)However, if the penalty calculated
under subsection (4) would beless than $10,
the penalty is $10.‘(6)After
considering the circumstances, the commissioner may waiveor
reduce the penalty.‘(7)Aproceedingagainstagrantorundersubsection(3)maynotbetaken,andthecommissionermaynotimposeapenaltyundersubsection(4),forthegrantornothavingmadeastatementbeforetheconsideration for the right of
occupation was ascertainable if—(a)theamountoftheannualconsiderationpayablecouldnotbeascertained for the contract or
agreement; and(b)within 1 month of acquiring or
agreeing to acquire the right ofoccupation,thegrantorreasonablyestimatedthattheannualconsideration
would be not more than $10 000; and(c)the
actual annual consideration paid did not exceed the
grantor’sestimate by more than 15%.‘(8)Thestatementmentionedinsubsection(3)istakentobeaninstrument under
this Act executed by the grantor and is chargeable withduty
as if—(a)the statement were an instrument of
lease of the premises; and12345678910111213141516171819202122232425262728293031323334
s
1012s 11Revenue Laws
Amendment (No. 2)(b)the consideration paid or payable
under the contract or agreement(otherthanreasonableoutgoingsforthepremises)wererentalpaid
or payable by the occupier under the lease; and(c)the
term and any conditional term of the right of occupation
werethe term and conditional term of the
lease.’.Clause˙Amendment of sch 1 (Stamp duties on
instruments)10.Schedule1,APPLICATIONFORREGISTRATIONORAPPLICATIONFORTRANSFEROFREGISTRATIONOFAMOTOR VEHICLE, Exemptions—insert—‘7.(1)Any application
for registration of a heavy motor vehicle that was,immediately before 1 July 1995, registered
under the Commonwealth Actif—(a)theregistrationisthefirstregistrationofthevehicleinQueensland; and(b)the
person in whose name the vehicle is registered in Queenslandis
the person in whose name the vehicle was registered under
theCommonwealth Act.‘(2)In subsection (1)—“CommonwealthAct”meanstheInterstateRoadTransportAct1985(Cwlth).“heavy
motor vehicle”means a motor vehicle with a gross vehicle
massof 4.5 tonnes or more.’.1234567891011121314151617181920212223†PART 3—AMENDMENT
OF PAY–ROLL TAX ACT1971˙Act
amended in pt 3Clause11.This
part amends thePay-roll Tax Act 1971.24252627
s
1213s 13Revenue Laws
Amendment (No. 2)Clause˙Amendment of s 6 (Wages liable to pay-roll
tax)12.(1)Section
6(1)(a)—omit, insert—‘(a)that
are paid or payable in Queensland, other than wages so paidor
payable to a person for services performed or rendered—(i)entirely in another State; or(ii)entirelyoutsideAustraliaformorethan6monthsafterwages were first paid to the person for the
services; or.’.(2)Section 6—insert—‘(1A)Subsection(1)(a)appliestowagespaidorpayableafterthecommencement of this subsection for
services performed or rendered by apersonentirelyoutsideAustralia,eventhoughthefirstpaymentfortheservices was made
before the commencement.‘(1B)Subsection (1A) is a law to which theActs
Interpretation Act 1954,section 20A
applies.‘(1C)Subsections
(1A), (1B) and this subsection expire on the day theycommence.’.Clause˙Insertion of new s 1113.After section 10—insert—˙‘Exemption from
pay-roll tax—certain CWA wages‘11.(1)CWA is not
required to lodge a return.'(2)Sections 9, 11B and 11C apply to CWA
as if—(a)in section 9(1), the words in the
definition “prescribed amount”were ‘means all
taxable wages paid or payable by CWA in thereturn period’;
and(b)the words in section 11B(1)(b) were
‘all taxable wages paid orpayable by CWA during the financial
year’; and1234567891011121314151617181920212223242526272829
